BofA analyst Geoffroy de Mendez double downgraded Boohoo to Underperform from Buy with a price target of 40 GBp, down from 75 GBp. The firm sees market share risk due to competition from Shine. Shein is looking to target U.K. and Europe, where 75% of Boohoo’s sales come from, the analyst tells investors in a research note.
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Published first on TheFly
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